Hi Aspirant,
CAT is the exam which you should opt if you want to get into the top B-Schools of the country.
As all the IIM's do not accept mat scores and also several other very good colleges do not accept it either.So,if you want to get into one of the best mba college in the country,my suggestion would be to rather go for CAT.
In terms of placements,it depends on the student and the college.There have been instances in which students from tier B colleges getting better salaries  than students from tier A colleges.
However,in general,package offered is better in a better college.
Hope this helps.

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